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Article: MEMORIAL DRIVE TRUST REJECTS PLENUM OFFER FOR A.D. LITTLE
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- July 31, 1987
- Author:
CopyrightCopyright 1987 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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Arthur D. Little Inc. announced that trustees of the
Memorial Drive Trust have rejected a proposed purchase by Plenum
Publishing Corp. of New York for the majority of Arthur D. Little
stock.
"The board of trustees," wrote Jean de Valpine, chief
executive officer of the Memorial Drive Trust, "believe that
retention of the Arthur D. Little common stock at this time is in
the best interests of the participants and the beneficiaries of the
plan."
No other reason was given for turning down Plenum's proposal.
The Memorial Drive Trust controls more than 70 percent of Arthur D.
Little's 2.6 million shares. The balance of the 101-year old
Cambridge consulting firm's stock is ...